Central Banks
Unconventional policy affects both sides of balance sheets
Bank of Japan looks at the size and composition of its balance sheet during its quantitative-easing period
Real economy and fiscal credibility crucial: Trichet
ECB chief says financial sector must put the real economy at the centre of its objectives, while governments have to cut spending to keep credibility
Journal of Economic Review – Riksbank
Riksbank’s third-quarter journal contains articles on the similarities between fiscal and monetary policy, and Swedish money-market premiums
North Korea drastically revalues currency
Reports say that the country has slashed two noughts off its currency; imposes a cap on exchanges into new money
BoJ rate-setter hints at further loosening
Bank of Japan MPC member says the central bank is open to further monetary easing, depending on the situation in markets
RBNZ, stock exchange moot possible payments team-up
Reserve Bank of New Zealand confirms talks with NZX to collaborate on clearing and settlement system
BoJ loosens in bid to appease government
Bank of Japan loosens monetary policy at unscheduled meeting to ease tensions between central bank and government
BoE’s Posen wants housing “stabilisers” to control bubbles
Monetary Policy Committee’s Adam Posen calls for existing taxes to work as automatic stabilisers for house prices; argues against leaning against the wind with rates
Fed tiptoes further towards exit
New York Federal Reserve says it will make small-scale reverse repurchase operations in order to test strand of exit strategy
Interview with Donghyun Park
Donghyun Park, a senior economist at the Asian Development Bank, discusses reserve management post-crisis and fostering demand in Asia
BuBa focused on cutting cash-processing costs: Fabritius
Bundesbank’s Hans Fabritius says central bank working on outsourcing cash processing
Fiscal stimulus crucial for recovery
Centre for Economic Policy Research (CEPR) compares the Great Depression with the global credit crisis
Ex-MPC’s Buiter to head Citi economics team
Former Bank of England policymaker and frequent bank-basher Willem Buiter named as Citigroup’s chief economist
Aussies hike for third straight month
Reserve Bank of Australia raises rates by a quarter point but hints at hold in coming months
UAE backs banks as Dubai fears spark local sell-off
Commentators praise pre-emptive move on back of uncertainty in global markets following fears of Dubai World default
Eurosystem continues to shed staff
Number of eurozone central bankers has fallen by almost 10% over past five years
Bank data revives doubts over QE
Bank of England’s key broad money aggregate and lending figures decline